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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: waverider who wrote (73398)3/27/2001 9:04:23 PM
From: JRI  Read Replies (1) | Respond to of 99985
 
An ascending wedge in a downtrend is bearish, not bullish......also, that really wasn't much of a bottom formed a couple weeks back...looks fragile to me..

I did hear Dorsey recommend it however....about 3/4 days ago...you might want to check his site...

Good luck....I think there are definently "safer" plays out there....Qcom is such cult stock....45B market cap on 3-4B revenue...don't know if the "new new" market allows such valuations anymore.....one slip by Qcom.....and its a long fall....be careful..



To: waverider who wrote (73398)3/27/2001 9:44:58 PM
From: gfs_1999  Read Replies (1) | Respond to of 99985
 
QCOM chart, may be a H&S bottom but MA 200 x MA 50
triggered a sell signal 6 days ago. I would prefer to buy it when MA 200 come back again below MA 50. If I want to buy it I would wait until Qcom break its down trend line with good volume. PE 2000 63 and PE 2001 45 IMO not cheap
High PE stock are being punished.

May be good for a trade target price 70's due downtrend line and MA 200 or MA 50 resistence

Regards
GFS


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